ISSUE – Apr. 19 | The Demise Of Tilt: A Bargain For Airbnb, A Classic Loss For Investors Like Andreessen Horowitz

In 2015, social payments company Tilt was worth $375 million. Less than two years later, it had lost over 95% of its value and was sold for a pittance. What happened?

Facebook investor Sean Parker heard Tilt’s pitch and wanted in. He introduced Beshara, fresh out of Y Combinator, to Andreessen Horowitz partner Jeff Jordan, one of the Bay Area’s top VCs. “It was the second time that Sean introduced an entrepreneur to me,” Jordan, who ultimately led Tilt’s Series A and B rounds, told Fortune. “The first one was Mark Zuckerberg.” [ Fast Company ]